Are You An Investor Who Suffered Losses in MSP Recovery, Formerly D/B/A LifeWallet Stock, Sold To You By A Broker? Our Stock Loss Law Firm May Be Able To Help
The Shepherd Smith Edwards and Kantas Stock Loss Law Firm (investorlawyers.com) is looking into claims of losses by LifeWallet (LIFW) investors who purchased their shares through a financial advisor.
Now MSP Recovery (MSPRW), (formerly D/B/A LifeWallet). The company is focused on recovering healthcare reimbursements for claims that were improperly paid, especially those involving Medicaid and Medicare. Most investors purchased this stock as LifeWallet, which has faced a number of problems in recent years, such as:
- The company announced in April 2023 that its quarterly financial statements for the periods concluding in June 2022 and September 2022 “should no longer be relied upon” and restatements were needed. LifeWallet’s stock price then dropped.
- Revenue targets have regularly not been met. For example, one year, $992M was projected, but $21.79M in revenue was reported.
- Serious debt with loan terms having to be renegotiated has also been a problem, not to mention that some of the loans are high-interest.
- LifeWallet has been the subject of civil and criminal probes over its business practices.
- In an August 2024 filing with the US Securities and Exchange Commission (SEC), LifeMark indicated there was “substantial doubt” about being able to continue as a going concern.
- LifeWallet has inferred that new shares could have to be issued to fulfill debt obligations. This could dilute the existing shares’ value.
What Should You Do If You Are A LifeWallet Investor?
If you are a LifeWallet investor and you are concerned about losses, contact our investment loss attorneys today. We can help you determine whether you may have grounds for a claim against your broker or investment adviser who marketed and sold you LifeWallet stock.
Brokerage firms have a duty to conduct proper due diligence on any investment they sell to customers. This includes making sure it’s a sound proposition that doesn’t leave an investor vulnerable to unnecessary losses that could otherwise have been avoided.
Broker-dealers and their financial advisors are also supposed to ensure that any recommendation they make is appropriate for each customer given their investing profile, risk tolerance level, age, and financial goals.
Trusted Stock Loss Law Firm
The Shepherd Smith Edwards and Kantas Stock Loss Law Firm has been representing investors against broker-dealers and investment advisers for more than 30 years. We know how to assess the cause of your losses and whether it warrants pursuing damages from your financial advisor.
Our securities law firm has the skills, resources, and experience to handle even the most complex claims in arbitration, litigation, and mediation. More than 90% of our clients have secured full or partial financial recovery through our dedicated efforts.
Call our Stock Loss Law Firm at (800) 259-9010 or fill out this contact form.